ISLAMABAD: The federal government has once again dropped “petrol bomb” on masses by increasing the prices of petroleum products by up to Rs12.03 per litre.
With the latest hike, the prices of petroleum products have reached a historic high. New prices will be applicable from Tuesday midnight.
The new fuel prices will remain applicable till February 28, read an official notification.
According to the notification, petrol price has been increased by Rs12.03 per litre and high speed diesel price by Rs9.53 per litre. Similarly, the price of light speed diesel has risen by Rs9.43 per litre while kerosene has been increased by Rs10.08 per litre.
With the latest increase, the price of petrol has been increased from Rs147.82 per litre to Rs159.86 per litre and high speed diesel from Rs144.622 to Rs154.15 per liter, light diesel oil has been increased from Rs114.54 per litre to Rs123.97 per litre and kerosene oil has been increased from Rs116.48 per litre to Rs126.56 per litre.
Amid international tensions, sources said that fuel prices were likely to go up by Rs12.33 per litre from February 16.
This figure includes the petroleum levy and general sales tax.
High-speed diesel is widely used in the transport and agriculture sectors, and an increase in their prices would impact the masses heavily because of a potential surge in inflation.
Petrol is used in cars and motorbikes, and in the absence of electric vehicles in the country, its only alternative is compressed natural gas (CNG).
Kerosene oil is commonly used in remote areas of the country, primarily for cooking, as liquefied natural gas (LNG) is not usually available there. Pakistan’s security forces are also among the major consumers of kerosene oil in far-off areas, including the northern parts of Pakistan.